Cannel 4 News tonight.....was this what we suffered thanks to RBS?

[sergio 1,199]

They split late last year

They were meant to be sold off to the Coop, but they didn't want to be part of the black hole .. LBG pulled the plug on that and are set to but the TSB brand on to the stock exchange and make some serious money that way.

[JCDBigBear 10,824]

All true, but even a potential £90m was a drop in the ocean to HBOS as it was then.

Bad debts at MIH was about £760m iirc and the only asset Murray was 'forcibly' sold was RFC.

There is absolutely something in him being told by Lloyds to sell us when he did, rather than PPG or MIM which were trading at substantially higher losses than RFC.

You are missing the point though that the potential additional debt would put RFC into admin where the bank would get no return at all whereas they saw a better prospect of a financial return when the other MIH companies recovered. That is why they did the debt/equity swap.

[Corky True Legend 2,682]

The only bank with any credibility is the Airdrie Savings Bank which remained independent when the other TSB's merged. It was not, therefore, involved in the public flotation and still operates under the old ethical standards of the originsl TSB ideals.

[Albertz 78 918]

Channel 4 news? how long did it take timmy Thomson to blame Rangers for the floods in England right now? Stand by for his blog on Ebt's causing climate change soon.

[TAFKA 545]

Was there not a guy involved with The Celtic Trust (McManus ?) who worked for the bank at that time?

Always felt that there was something stinking about that deal as the debt was coming down year after year - which is exactly the behaviour a bank would want to see.

[WadeWilson 4,670]

They're absolute vermin and so are the politicians and other leaders who're in bed with them, scum bastards.

[Thewhitesettler 2,711]

Let's hope someone high up in the Co-op Bank was watching, and decides to claw back some of the money they've loaned out to certain football clubs. However, they better not just grab some of the land, that a certain club used as security, because, apparently it might be contaminated! I'm not 100% sure about that though, since the GCC won't release the documentation to prove land is contaminated, under a FOI request from PZJ.

[Rangers Lady 2,380]

Was there not a guy involved with The Celtic Trust (McManus ?) who worked for the bank at that time?

Always felt that there was something stinking about that deal as the debt was coming down year after year - which is exactly the behaviour a bank would want to see.

Manus Fullerton, another cunt.

[TAFKA 545]

Manus Fullerton, another cunt.

Cheers - that's the very man

Another bigot in a position of influence